SINGAPORE – Malaysia’s 50 richest individuals saw their combined wealth surge by 30 per cent to US$116 billion (RM458.2 billion) in 2026, up from US$90 billion (RM355.5 billion) a year earlier, driven by economic growth, a firmer ringgit and a strong initial public offering (IPO) market, according to Forbes.
The richest individual in Malaysia, Robert Kuok, 102, retained his top spot as his wealth rose 19 per cent to US$13.6 billion, followed by Koon Poh Keong and his siblings of Press Metal Aluminium Holdings, whose net worth surged 80 per cent to US$9.7 billion.
Meanwhile, siblings Lee Yeow Chor and Lee Yeow Seng of IOI Group moved up three places to third with a net worth of US$8.5 billion.
In a statement, Forbes Asia said the gains were driven by Malaysia’s 5.2 per cent economic expansion in 2025, a firmer ringgit and a buoyant IPO market.
“A total of 41 listees are better off this year, including Lee Thiam Wah (6), founder and chief executive officer of 99 Speed Mart Retail Holdings, whose fortune nearly doubled to US$6.7 billion.
“Property tycoon Jeffrey Cheah’s (8) wealth ballooned 76 per cent to US$5.3 billion amid notable moves by his conglomerate Sunway Group, which spun off Sunway Healthcare in March 2026, raising US$732 million in the country’s largest IPO in almost a decade,” it said on Thursday.
According to Forbes Asia, there are two newcomers on this year’s list: Lee Kar Whatt, co-founder and managing director of Eco-Shop Marketing, debuts at No. 18 with a net worth of US$1.5 billion.
The Tiong family, ranked No. 42 with US$655 million, comprises the heirs of Tiong Hiew King, who had interests in palm oil, property and media, and died in November at the age of 90.
The top 10 richest individuals in Malaysia are as follows:
1) Robert Kuok; US$13.6 billion
2) Koon Poh Keong and siblings; US$9.7 billion
3) Lee Yeow Chor and Yeow Seng; US$8.5 billion
4) Teh siblings; US$7.7 billion
5) Quek Leng Chan; US$7.5 billion
6) Lee Thiam Wah; US$6.7 billion
7) Krishnan family; US$6.5 billion
8) Jeffrey Cheah; US$5.3 billion
9) Francis Yeoh and siblings; US$4.1 billion
10) Syed Mokhtar Albukhary; US$3.5 billion
Forbes Asia said the minimum net worth rose to US$422 million from US$335 million last year.
“Net worths were based on stock prices and exchange rates as of the close of markets on March 27 and private companies were valued based on similar companies that are publicly traded,” it added. – April 16, 2026